January 2025 House & Home Real Estate Newsletter Copyright Realtor Kathy Smith
This holiday season, I took a much needed break with Loki for a magical adventure in NYC. The snowy city and festive cheer were the perfect reset, helping me recharge to start 2025 with a bang!
Speaking of 2025, big changes are on the horizon—stay tuned for some exciting announcements coming soon!
As we look ahead, the real estate market remains unpredictable. Some homes are sitting for 30-60 days with little activity, only to spark bidding wars out of nowhere. Others are still selling within a few days on market, while the remainder sell around 40 days. It’s an interesting time to be in the business, indeed.
Wishing you a fantastic start to 2025!
SNEAK
your Realtor PEEK
HAPPY NEW YEARS!
Home New Year’s Resolutions
HOMEBUYER BASICS
Tips for Buying Your First Home
MORTGAGE
101
Understanding the Mortgage Process
LOVING LOCAL
Spotlight on Local Business & Local Events
ENTERTAINMENT CORNER
Feel Good Content for the Soul
MARKET UPDATE
new newyear’s year’s
It’s a new year! With the new year comes new promises and resolutions for your lifestyle, health, finances and any other aspect of self-improvement. But have you thought about your home and how you may bring new ideas into the fold to create that spirit of new beginnings? Don’t worry! I’ve got you (or rather, your home) covered. Here are my top ideas for your home resolutions:
1 Out with the old!
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3 Tackle the home projects.
It’s the perfect time to declutter and organize your stuff. If it means throwing away those items that you haven’t used in years (and don’t even remember is there), then so be it. Just don’t throw away any family heirlooms or baseball cards that could be worth millions one day. Get rid of the junk and organize the stuff you plan to keep.
This is what I call a win/win situation!
2 In with the new!
Energy efficiency is all the rave these days. Invest in energy-efficient systems like smart thermostats, smart appliances, and smart lighting. You’ll not only save money, but you’ll save the planet! Now that’s what I call a win/win situation.
Do you have a “honey-do” list that has been written but not yet started? Are there some things in the house that you’ve been putting off just waiting for the perfect day to begin? Now is the perfect time to start! Carve out time and get to work! Fix that broken sink, replace the batteries in the smoke detectors, remove the popcorn ceiling, silence the squeaky floors, etc. You’ll thank me later.
Clean out the garage and make it functional.
Has your three-car garage been converted into a storage room? Are your cars housed outside under a tree while fighting the outdoor elements? If this is you then let’s talk. Here’s your motivation to crack that whip and clear out the clutter. Get rid of the old furniture or all those other pieces that haven’t seen the light of day. If there are things that you can’t part with, consider getting a storage unit. Turn your garage back into a -- garage. Organize tools, outdoor equipment, and sporting goods and make room for your cars to fit.
4 for Buying Your First Home FOURTIPS
THINK ABOUT WHERE YOU WANT TO LIVE
Buying your first home can be exciting yet scary. While looking at various homes and imagining yourself living in it can be a great feeling, you still can’t help but fear the process. Are you doing it right? Are you making the right decisions for you are your family? Allow me to ease some pressure with my top four tips to ensuring you will choose the perfect home.
CREATE A “MUSTHAVE” LIST OF HOME
FEATURES
The first rule in real estate islocation, location, location. Think about your ideal neighborhoods and its proximity to work, school, and favorite restaurants /shops. Consider the commute, traffic, and school districts.
Create a list of must-haves in a home - what you absolutely will not budge on - and then create a separate wish list. Knowing what you must have in a home and what you can live without can help zero in on the perfect home.
CONSIDER YOUR APPETITE FOR DIY PROJECTS
You may be inclined to choose a home that needs some work, but before you commit, consider your DIY limits. “I’ll get to it later” is perhaps another way of saying “I’ll get to it never.” If you know you’ll do the work, then keep it on your short list.
Overview: Mortgage Process
The mortgage process can be quite daunting, especially to a first-time homebuyer. However, you won’t be alone. Your lender and real estate agent will help you navigate the process and ensure that you’ve completed each step and with expert advice. For starters, here is a step-by-step guide on what to expect from application to loan closing.
Application
Submit an application to your lender. This includes your personal information, your finances and the details of your potential mortgage.
2 Pre-approval
Once your information is reviewed and ran through underwriting software, you will receive a preapproval typically good for 60-90 days.
House Hunt
Armed with your pre-approval letter, you can now begin the search for your perfect home.
Appraisal
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Once you’ve identified a home and are under contract, you will submit that contract to your lender to begin the appraisal process.
HIRE ME AS YOUR AGENT
As your Agent, I will work on your behalf to find that perfect home. I will ensure that you are knowledgeable of the buying process, will provide technical guidance backed by many years of experience, and will negotiate the best deal possible.
Processing & Underwriting
This step is considered behind the scenes as your Processor will prepare your file for underwriting and your Underwriter will underwrite to your specific loan program.
Loan Conditions
Next you’ll submit requested documents to clear all loan conditions and await a clear-to-close (CTC).
CTC & Loan Closing
A CTC will be issued after your Underwriter reviews all documents. Finally, it’s time to actually close - give your down payment and closing costs and sign all documents legally transferring title to you.
Entertainment CORNER LOKI’s Barklight
New York City
Featured Community Events
1/18
of Charlotte MLK Holiday Parade (Tryon Street)
1/19 Bridging Musical Worlds, a Celebration of Martin Luther King, Jr. (Friendship Missionary Baptist Church)
Hamilton (Belk Theater) 2/22
Days of Winter (U.S. National Whitewater Center)
American Heritage Festival (Charlotte Museum of History) Inauguration Day
Loki's photoshoot trip to NYC right before Christmas was nothing short of magical. The weather was perfect, with soft snowflakes falling against the city's iconic backdrop, though the bitter 16° cold kept us bundled up. Loki stole the spotlight everywhere we went, turning heads and warming hearts with his fluffy charm. From snowy sidewalks to festive lights, every moment felt like a dream. Despite the chill, the magic of the city and the memories we created will stay with us forever—a truly unforgettable holiday adventurewithmyBFF.
Market Insights
Charlotte’s real estate market cooled in December, with average daysonmarketrisingto55,upfrom 37 in December 2023. Despite this, home values increased, with the average sold price reaching $476,952, a 4.2% jump from last year. Sellers, on average, received 95.1% of their list price, reflecting morebalancedmarketconditions.
These trends highlight Charlotte’s steady growth, even as the market adjusts seasonally. Sellers should prepare for longer timelines, while Buyers may find increased opportunities.
